Money

By Walé Azeez, CNN Business China confirmed on Wednesday that it would join the United States and other major energy-consuming nations in releasing strategic oil reserves to try to cool high prices and tame inflation. The White House announced Tuesday that the United States would release about 50 million barrels from its Strategic Petroleum Reserve,

By Jordan Valinsky, CNN Business Perhaps one of the greatest mysteries of Thanksgiving is the cranberry sauce — and we’re not talking about why people eat it: Why are the labels on Ocean Spray cans upside down? Observant consumers have noticed that the labels on jellied cranberry sauce cans are flipped, meaning the rounded edge

By Nathaniel Meyersohn, CNN Business Dollar Tree will soon be $1.25 tree. The company — one of America’s last remaining true dollar stores — said Tuesday it will raise prices from $1 to $1.25 on the majority of its products by the first quarter of 2022. The change is a sign of the pressures low-cost

By Nathaniel Meyersohn, CNN Business Expect to pay more for some of your favorite cereals, snacks, soups and cooking brands next year. General Mills notified retail customers that it’s raising prices in mid-January on hundreds of items across dozens of brands. They include Annie’s, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch,

By Anna Cooban, CNN Business A British bank has adopted a four-day work week for all its employees without cutting pay, saying it’s the largest UK company so far to make such a move. Atom Bank announced on Tuesday that it had also reduced the weekly hours of its 430 staff to 34 from 37.5

By Jackie Wattles, CNN Business Jeff Bezos’ rocket company, Blue Origin, announced that it would be launching Good Morning America host Michael Strahan to the edge of space. Strahan will be joined by the daughter of the first American astronaut and four paying customers. Liftoff is slated for 9:30 am CT on December 9 from

By Matt Egan, CNN Business Nearly a dozen Congressional Democrats are urging President Joe Biden to combat high gas prices by not only releasing barrels from the US Strategic Petroleum Reserve but by banning US oil exports, according to a letter viewed by CNN. The letter sent Monday to Biden adds to the pressure the

By Parija Kavilanz, CNN Business Tiffany & Co. just unveiled its newest most-expensive bling ever. “The World’s Fair Necklace,” unveiled in Dubai on Sunday, features a stunning 180 carats of diamonds set in platinum. Its centerpiece is an 80-carat oval, flawless, D-color (highest grade and virtually colorless) “Empire Diamond,” named for the iconic jeweler’s hometown.

Reuters The United Nations on Monday pushed for urgent action to prop up Afghanistan’s banks, warning that a spike in people who are unable to repay loans as well as lower deposits and a cash liquidity crunch could cause the financial system to collapse within months. In a three-page report on Afghanistan’s banking and financial

By Paul R. La Monica, CNN Business The Chinese economy presents some unique challenges for investors. On one hand, China is home to several of the most dynamic and rapidly growing companies on the planet, such as electric car makers Xpeng and Nio as well as privately held TikTok owner ByteDance. But China’s recent crackdown

By Chris Isidore, CNN Business Shares of upstart electric truck maker Rivian plunged as much as 17% on Monday after the company said that it is no longer working with Ford to jointly develop vehicles. Both Ford and Rivian had already signaled they were moving away from earlier plans to work together on EVs. But

By Kerry Flynn, CNN Business Alden Global Capital, a hedge fund known for gutting local newsrooms, is seeking to buy Lee Enterprises, a publicly traded company with a chain of daily newspapers and other publications that serves 77 markets. In a Monday letter to Lee’s shareholders, Alden proposed purchasing Lee for $24 per share, which